Smith Anglin Financial LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 12.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,347 shares of the home improvement retailer’s stock after selling 194 shares during the period. Smith Anglin Financial LLC’s holdings in Lowe’s Companies were worth $304,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Lowe’s Companies in the 4th quarter worth about $1,461,267,000. Moneta Group Investment Advisors LLC boosted its position in shares of Lowe’s Companies by 107,710.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock worth $1,012,147,000 after buying an additional 5,075,327 shares during the period. Providence Capital Advisors LLC grew its holdings in Lowe’s Companies by 19,964.5% in the 1st quarter. Providence Capital Advisors LLC now owns 4,520,122 shares of the home improvement retailer’s stock worth $22,604,000 after buying an additional 4,497,594 shares in the last quarter. Macquarie Group Ltd. increased its position in Lowe’s Companies by 450.8% in the 1st quarter. Macquarie Group Ltd. now owns 2,556,364 shares of the home improvement retailer’s stock valued at $511,196,000 after acquiring an additional 2,092,245 shares during the period. Finally, Morgan Stanley boosted its position in Lowe’s Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after acquiring an additional 2,050,089 shares during the period. 71.88% of the stock is owned by institutional investors and hedge funds.
Lowe’s Companies Trading Down 4.7 %
NYSE LOW opened at $220.02 on Friday. The company has a market cap of $126.98 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.49 and a beta of 1.09. Lowe’s Companies, Inc. has a 1 year low of $176.50 and a 1 year high of $237.21. The company has a fifty day simple moving average of $227.97 and a 200 day simple moving average of $213.39.
Lowe’s Companies (NYSE:LOW – Get Free Report) last posted its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The business had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.97 billion. During the same period in the previous year, the company posted $4.67 earnings per share. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. Equities research analysts forecast that Lowe’s Companies, Inc. will post 13.46 EPS for the current fiscal year.
Lowe’s Companies Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.31%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on LOW shares. Stifel Nicolaus assumed coverage on shares of Lowe’s Companies in a report on Wednesday, September 6th. They issued a “buy” rating and a $270.00 price objective for the company. TD Cowen boosted their target price on Lowe’s Companies from $225.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, August 23rd. Citigroup lifted their price target on Lowe’s Companies from $221.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Oppenheimer restated an “outperform” rating and issued a $275.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 9th. Finally, Bank of America lifted their target price on Lowe’s Companies from $278.00 to $289.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average target price of $237.48.
Read Our Latest Analysis on LOW
Insiders Place Their Bets
In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the transaction, the executive vice president now directly owns 46,594 shares in the company, valued at $10,368,562.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the sale, the executive vice president now owns 46,594 shares of the company’s stock, valued at approximately $10,368,562.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Janice Dupre sold 5,380 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the transaction, the executive vice president now owns 24,216 shares of the company’s stock, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
Lowe’s Companies Profile
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.
Further Reading
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